Triumph Capital Management Acquires 113,953 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Triumph Capital Management raised its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 64.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,243 shares of the company's stock after purchasing an additional 113,953 shares during the quarter. SoFi Technologies makes up approximately 1.2% of Triumph Capital Management's holdings, making the stock its 16th biggest position. Triumph Capital Management's holdings in SoFi Technologies were worth $2,888,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SOFI. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company's stock valued at $610,458,000 after buying an additional 2,567,797 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of SoFi Technologies by 14.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,293,461 shares of the company's stock worth $42,295,000 after purchasing an additional 687,687 shares during the last quarter. Northern Trust Corp raised its holdings in shares of SoFi Technologies by 15.4% during the 3rd quarter. Northern Trust Corp now owns 4,371,786 shares of the company's stock valued at $34,931,000 after purchasing an additional 584,335 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of SoFi Technologies by 241.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company's stock valued at $38,772,000 after purchasing an additional 2,755,197 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in SoFi Technologies by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 2,862,794 shares of the company's stock worth $22,874,000 after purchasing an additional 95,491 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Price Performance

Shares of SOFI stock traded up $0.14 during trading hours on Wednesday, hitting $6.92. The company had a trading volume of 68,113,776 shares, compared to its average volume of 54,418,387. The firm's fifty day moving average is $7.58 and its 200 day moving average is $7.87. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of -22.32 and a beta of 1.75. SoFi Technologies, Inc. has a 12 month low of $4.45 and a 12 month high of $11.70.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. The company's revenue was up 26.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on SOFI. Jefferies Financial Group cut their target price on SoFi Technologies from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft reduced their target price on SoFi Technologies from $12.00 to $11.00 and set a "hold" rating for the company in a report on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price target on shares of SoFi Technologies in a report on Tuesday. Morgan Stanley reissued an "underweight" rating and issued a $6.50 price target (down previously from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Finally, Wedbush reaffirmed an "underperform" rating and set a $3.00 price objective on shares of SoFi Technologies in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $9.08.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.